Dutch prosecutors sell $2.5M in crypto from bankrupt exchange Knaken

The trustee in the Knaken bankruptcy sold $2.5 million worth of cryptocurrency from the collapsed Dutch platform. The core problem is that Knaken purchased the coins in its own name rather than on behalf of customers, meaning clients hold only a euro-denominated claim against an insolvent company rather than direct ownership of the crypto assets.

Should crypto exchanges be legally required to hold customer assets in segregated accounts?

Decrypt · 1h ago · Source ↗

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Dutch prosecutors sell $2.5M in crypto from bankrupt exchange Knaken

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